Mount Saint Mary College was recently rolled out a new annual scholarship for deserving students, thanks to the generosity of Focused Wealth Management, a local investment management firm.
Under the direction of firm owner and managing director Philip J. DeAngelo, Focused Wealth Management created the new $5,000 annual scholarship fund, to be presented to a Newburgh resident seeking a degree in Business.
This scholarship is deeply meaningful to DeAngelo and his wife, Tina, who have been investing in the City of Newburgh for many years.
“Tina and I are deeply committed to supporting our community and our local youth,” said DeAngelo. “We recognize the importance of higher education and the impact that an experience at a small college can make in an individual’s life. We are honored to sponsor this annual scholarship at one of the area’s premier educational facilities.”
DeAngelo is the son of a teacher and a school principal and his wife the daughter of Italian immigrants.
Nikki Khurana-Baugh, vice president of Advancement at the Mount, thanked Focused Wealth Management and the DeAngelos for their aid.
“On behalf of the Mount Saint Mary College community, we are extremely grateful for Phil and Tina’s generosity and that of the entire team at Focused Wealth Management,” said Khurana-Baugh. “Their annual scholarship will provide a young and talented student with a tremendous life opportunity.”
A scholarship can be the difference between achieving the dream of a college education and dropping out halfway through, noted Khurana-Baugh, especially for the 88 percent of Mount students who receive on financial aid. More than one-third of the Mount’s students are first generation college students, she added.
DeAngelo relocated Focused Wealth Management to Newburgh last year after purchasing the former Johnes Home at 11 Balmville Rd. and overseeing the restoration of the sprawling, 36,000 sq. ft. property into a modern office space, which still retains its historical roots and beauty.
“Great things are possible when we invest in our youth and our communities,” said DeAngelo. “With much optimism, we look forward to seeing the great potential our scholarship will cultivate.”